The three authorities have sought permission to collect arrears and advance payments of water charges, transfer charges, compounding fees, advertising and hoarding fees and rent for properties in the old tenders of Rs 500 and Rs 1000.Vandana Keelor | TNN | November 18, 2016, 13:00 IST

NOIDA: Property owners and citizens of Noida, Greater Noida and Yamuna Expressway Authority areas could soon be allowed to pay their arrears for essential municipal services with the demonetized currency. The three authorities of Gautam Budh Nagar—Noida, Greater Noida and YEIDA—have forwarded a proposal to Uttar Pradesh government for the same on Thursday. The three authorities have sought permission to collect arrears and advance payments of water charges, transfer charges, compounding fees, advertising and hoarding fees and rent for properties in the old tenders of Rs 500 and Rs 1000.

According to officials, the proposal has been forwarded to Rama Raman, UP Principal Secretary, Industries. “We have written on behalf of all the three authorities,” said M.M Mishra, Financial Controller, Noida Authority. Speaking to TOI, both Deepak Agarwal, Chief Executive Officer, Greater Noida Industrial Development Authority (GNIDA) and Arunvir Singh, CEO, YEIDA confirmed that the proposal has been sent to Lucknow.

As per officials, if the state government gives its nod, the demonetization of high-denomination currency could prove to be a boon to the development authorities, which have been issuing repeated demands for payment of dues in terms of water charges, electricity bills for our own rented properties,compounding fees, etc. “This will definitely be a positive spin-off of the Centre’s demonetization move,” said Agarwal. “We could easily collect a few hundred crores in this exercise in all the three areas,” he added saying GNIDA’s annual water charges itself amounts to about Rs 10 crore.

Officials further explained that once they receive a positive response from the state government, citizens and property owners will be able to pay any pending arrears besides paying in advance towards water charges, property transfer charges and rentals for our properties. Officials said they would accept the old defunct Rs 500 and Rs 1,000 notes as soon as the government allowed it. “We have asked the government to revert at the earliest,” Mishra told TOI. “This move could help us solve the cash crunch being faced in all the three areas,” he added.